Market
‘Binance is the crypto market’: Arcane crowns the exchange 2022’s winner
During a year plagued by crises such as the collapse of FTX and Celsius, data shows that crypto exchange Binance has emerged as the clear “winner” of 2022 according to Arcane Research. A Jan. 3 report from Arcane highlighted that Binance saw its market dominance soar throughout 2022. As of Dec. 28 last year it had captured 92% of the Bitcoin (BTC) spot market and 61% of the BTC derivatives market by volume: “There are no other evident ‘winners’ of 2022 other than Binance when it comes to the crypto market structure and market dominance. No matter how you look at it in terms of trading activity, Binance is the crypto market.” Binance’s BTC spot market dominance was 45% at the start of 2022 meaning that it more than doubled, while its share of the BTC derivatives market increased by almost o...
McDonald’s Collabs With Cactus Plant Flea Market For Limited-Edition Happy Meal®
HipHopWired Featured Video Source: McDonald’s / McDonald’s Everyone remembers their first Happy Meal® as a kid and the can’t-sit-still feeling as you dug in to see what was inside. Cactus Plant Flea Market is reimagining that experience in a whole new way – this time, for adults. Source: McDonald’s / McDonald’s As per Hype Beast the Cactus Plant Flea Market Box, a first-of-its-kind collaboration made exclusively for McDonald’s fans by one of the most important brands in culture. It all starts with the box, which has been totally redesigned in Cactus Plant Flea Market’s signature style alongside McDonald’s iconic Golden Arches. Fans who purchase the Cactus Plant Flea Market Box on the McDonald’s App will automatically be entered for a chance to score exclusive merch for free every...
Volatility expected as $490M in ETH options expire shortly after the Ethereum Merge
Given the current state of the wider crypto market, some traders might be surprised to learn that Ether (ETH) has been trading in an ascending trend for the past 17 days. While the entire cryptocurrency market experienced a 10% decline on Sept. 13, Ether’s price held firm near the $1,570 support level. Ether/USD price index. Source: TradingView In less than 12 hours, the Ethereum network is scheduled to undergo its largest ever upgrade and the possibility of extreme volatility should not be ignored. The transition to a proof-of-stake network will be a game changer for multiple reasons, including a 98.5% cut in energy use and reduced coin inflation. During an upgrade, there is always the risk of multiple malfunctions, especially in more complex systems like the Ethereum Virtual Machin...
Ethereum preparing a ‘bear trap’ ahead of the Merge — ETH price to $4K next?
Ethereum’s native token, Ether (ETH), continues to face downside risks in a higher interest rate environment. But one analyst believes that the token’s next selloff move could turn into a bear trap as the market factors in the possible release of the Merge this coming August. ETH to $4K? Ether’s price could reach $4,000 by 2022’s end, according to a technical setup shared on May 20 by Wolf, an independent market analyst. The analyst envisioned ETH moving inside a multi-month ascending triangle pattern, which comprises a horizontal trendline resistance and rising trendline support. Notably, ETH’s latest retest of the structure’s lower trendline could initiate a big rebound toward its upper trendline, which sits around the $4,000-level, as s...
Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern
Ethereum’s native token Ether (ETH) looks ready to undergo a breakdown move in May as it forms a convincing “bear pennant” structure. ETH price to $1,500? ETH’s price has been consolidating since May 11 inside a range defined by two converging trendlines. Its sideways move coincides with a drop in trading volumes, underscoring the possibility that ETH/USD is painting a bear pennant. Bear pennants are bearish continuation patterns, meaning they resolve after the price breaks below the structure’s lower trendline and then falls by as much as the height of the previous move downside (called the flagpole). ETH/USD two-hour price chart. Source: TradingView As a result of this technical rule, Ether risks closing below its pennant structure, followed by additional mo...
Solana jumps past key selloff junction: SOL price eyes $150 in April
Solana (SOL) jumped past a critical resistance level that had limited its recovery attempts during the November 2021-March 2022 price correction multiple times, thus raising hopes of more upside in April. Solana flips key resistance to support To recap, SOL’s price underwent extreme pullbacks upon testing its multi-month downward sloping trendline in recent history. For instance, the SOL/USD pair dropped by 60% two months after retracing from the said resistance level in December 2021. Similarly, it had fallen by over 40% in a similar retracement move led by a selloff near the trendline in November 2021. SOL/USD daily price chart. Source: TradingView But Solana flipped the resistance trendline as support (S/R flip) after breaking above it on March 30, accompanied by a rise in trading...
Lagos traders send SOS to police, governor over planned market raid
Traders, shop owners and stakeholders operating under the aegis of Balogun Business Association (BBA) in Lagos have raised the alarm over a rumoured threat to raid their market by thugs loyal to a former chairman of the association. The aggrieved traders who addressed reporters yesterday at the Association Secretariat at the popular Lagos International Trade Fair Complex, Badagry Expressway, Ojo, alleged that credible intelligence at their disposal indicates that the planned invasion of their peaceful market would take place between Sunday, June 27 and Wednesday, July 28. Warning of imminent bloodshed of innocent traders should the alleged invasion happen, the Principal Stakeholders, recalling that similar attacks by the same person in the years 2005 and 2007 had led to the loss of lives, ...
Two ‘criminals’ lynched in Benue
Two suspected criminals including a motorcycle thief and an alleged cultist have been lynched in two separate incidences in Makurdi, the Benue State capital. Newsmen gathered that the suspected motorcycle thief was killed on Friday night after he allegedly snatched a commercial motorcycle from its owner around Demekpe area of the metropolis. Some eye witnesses who did not want to be named said the suspect had already succeeded in snatching the motorcycle from its owner and was speeding away with it, when the victim raised alarm which attracted other commercial motorcyclists who pursued after the alleged thief and in no time caught up with him. “As soon as they got hold of the thief around St. Augustine Catholic Church in Wadata, the Okada riders wasted no time in meting out jungle justice ...
APC group commends President Buhari, security agents for ‘decimating’ IPOB
The All Progressives Congress (APC) Legacy Awareness and Campaign has commended President Muhammadu Buhari and federal security agents for decimating separatist group Indigenous People of Biafra (IPOB). The group, in a statement issued by the quartet of Barr Ismail Ahmed, Lanre Issa-Onilu, Tolu Ogunlesi and Salihu Moh Lukman, claimed that the country will in the next few months witness even more progress on all fronts. ‘On security, the fear that has gripped the nation in recent times is receding while confidence is being renewed as the security agencies are chasing down the criminals, taking the battle to the bandits, unknown gunmen, kidnappers, and other criminal elements who have been holding the country by the jugular and turning Nigeria to a killing field,’ the group stated. ‘From the...
Naira appreciates at N493 to dollar in parallel market
The naira, on Thursday, appreciated by 1.8 percent to N493 to a dollar at the parallel market as the Central Bank of Nigeria (CBN) increased forex supplies to banks. The local currency, which opened at N502 per dollar, gained N17 to N485 during midday trading before closing at N493/$1, according to data on abokiFX.com, a website that collates parallel rates in Lagos. It also appreciated against the pound sterling to close at N710 and N600, gaining N3 and N6, respectively, on the street. At the importer and exporter (I&E) window, it appreciated 0.13 percent to close at N411.50 to the dollar. Last week, Godwin Emefiele, CBN governor, met with bank CEOs and agreed to increase the amount of foreign exchange allocated to banks to meet legitimate needs. Emefiele cautioned them to ensure that...
Naira slides again at official market
Naira for the second day in a row fell against the U.S. dollar at the official market Wednesday, but managed a rebound at the parallel market, a day after hitting its lowest black-market rate in at least four years. Data on the FMDQ Security Exchange where forex is officially traded showed that the naira closed at N412.00 per $1 at the Nafex window. The local currency performance on Wednesday represents a N0.25 or 0.06 per cent decrease from N411.75 the rate it traded in the previous session on Tuesday. The trading session on Wednesday witnessed a forex turnover of $131.86 million, this translates to a 23.44 per cent depreciation from $172.24 million posted in the previous session on Tuesday. The domestic currency experienced an intraday low of N420.97 and a high of N400.00 before closing ...
Pastor kills, buries wife in Akwa Ibom
A pastor in Akwa Ibom State, Nigeria’s South-south, has been detained by the police for allegedly killing his wife. The incident happened at a village called Ikot Ataku, Okon, in Eket Local Government Area. The pastor has been identified as Chris Enoch, the founder of Omega Word Global Ministries. He is from Ebonyi State, Nigeria’s South-east. The youth president of Okon Clan, Effiong Johnson told newsmen, Wednesday night, that Mr Enoch killed the wife, Patient, seven days ago and buried her corpse in the shallow grave inside their gated compound where they have been living with their five children. The eldest child is 15 years old. Mr Enoch’s church has been operating inside the same compound which is rented. The community became suspicious when the pastor’s children complained to neighbo...
